In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Shopify (SHOP), with a price target of $200. The company’s shares closed yesterday at $175.55, close to its 52-week high of $180.
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 13.2% and a 56.8% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
Shopify has an analyst consensus of Strong Buy, with a price target consensus of $182.70, representing a 4.1% upside. In a report issued on February 11, Wedbush also reiterated a Buy rating on the stock with a $200 price target.
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Based on Shopify’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $1.51 million. In comparison, last year the company had a GAAP net loss of $2.99 million.
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Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops.
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